CECON LLC is now a wholly owned subsidiary of Becht Engineering and will provide a broad array of science and engineering services to its clients in multiple market sectors.
The acquisition is intended to expand its technology-focused subsidiary, Petro Spring LLC.
Tervita‘s assets will support Republic’s current E&P business and will support work in several domestic basins.
It’s not clear how much the unit is worth.
The former owners of J-Mac have retained the pumping equipment integration and controls business.
Following this acquisition, the company will continue to operate independently under the name AMIK Oilfield Equipment & Rentals.
The acquisition of IAL provides Flotek with complete control over the manufacturing and service quality of a next-generation, proprietary design in the rapidly expanding hydraulic pumping units market.
The OrBIT drillbits are designed to perform completion and workover activities in a more efficient and cost effective manner.
Dhatec's estimated revenue in 2014 is approximately US$25 million.
The transaction was made for cash consideration of approximately $850 million and after-tax proceeds of approximately $600 million.
These transactions bring Weatherford's total realized cash divestiture proceeds to over $1.7 billion for 2014.
Terms of the transaction were not disclosed.
|S&S||USD 485||Members only||Tervita LLC|
|S&S||USD 52.6||Members only||Tulsa Inspection Resources LLC|
|E&P||CAD 307||Members only||Artek Exploration Ltd.|
|E&P||CAD 172||Members only||Undisclosed|